'D' word or 'R' word?

[Rheghead]

When does a recession become a depression or are they the same thing? We never hear of the economic 'recession' of the 1930s yet aren't losses bigger now than back then? Or is it politically incorrect to call a depression a depression these days?

[anneoctober]

When does a recession become a depression or are they the same thing? We never hear of the economic 'recession' of the 1930s yet aren't losses bigger now than back then? Or is it politically incorrect to call a depression a depression these days?
Maybe we're falling headlong into a "depressed recession".......:eek:

[Errogie]

I think I'd prefer to feel recessed rather than depressed which has a rather more terminal connotation in my mind.

Of course all the hype increases the effect, perhaps it would be much easier if we had just woken up one morning to be told the recession had arrived rather like any other natural event like an earthquake or volcanoe and then just have to roll up your sleves and deal with it. Still to hear of a hedge fund manager jumping out of an office window though.

[badger]

Seem to remember hearing that a recession is when you neighbour loses his job and a depression is when you do.